So how will you expand globally? Begin with a well laid-out plan that addresses language, customs, tax compliances and other online selling requirements. Also, consider the size of the market you plan on entering, duty barriers and shipping costs, among others things.
Does the global market you are entering fit your product or service? Is the demand there? Does your product translate well into other cultures other than the United States? Ask yourself these questions and make sure the answers are yes.
Once this is set, think about how you will execute your ecommerce operations globally.
You will want to begin by what many are calling thinking “Glocally” (global + local). In order to dip into the global market, you will need to adapt your global marketing strategy into each global market you plan to enter. Also, take note that not every marketing strategy will work for every market, so you will want to adapt your approach to accommodate the expectations regionally.
The regional plan needs to be rolled out. Develop and test a comprehensive plan that can be used to create a local sales presence that is broad enough to work in each region you want to expand in.
What is a good business if your consumers can’t understand you? Ensure that your site accommodates local languages and customs. Get expert help and build a team that is capable of translating your message across to the masses.
Next, develop a pricing and tax compliance strategy. It is important that you have an accounting infrastructure in place to reduce any liability exposure in the event of an audit.
Complying with the pricing of the market in which you are expanding is important as well. Display the costs of your products in the currency of the market you are selling in and make sure they are competitive with other prices in the market.
Once you have set up an accounting infrastructure and your price points for the market are in place, design an ecommerce infrastructure.
Find a cloud-based infrastructure and secure off-site technology resources that are designed to make scaling up quick and easy. It should offer features like flexible automation to allow you to expand into new markets quickly.
As you begin to prepare your ecommerce site and e-marketing in global locations, remember to establish a network to handle logistics on the local level. Have a detailed supply chain and transportation plan based on information from local teams that can help you from order receipt to delivery.
Do you know your audience? Learn their shopping habits and preferences with a clear understanding that not everyone has the same ones. People in different countries have different shopping, payment and shipping preferences.
A survey by Rakuten showed that international shoppers relied on price (61%), while 49% of international shoppers considered, “reliability of the retailer to be paramount.”
Trust was very important for respondents in Thailand and Indonesia. Of the respondents, 29% also felt that shipping options were a major factor in their buying behavior, according to Rakuten. Europe had a smaller percentage with 26% and the United States came in at 33%.
For more about global ecommerce, check out Daniela Forte’s executive summary report Global Ecommerce Expansion is a Must for Merchants.